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2015 (10) TMI 281 - AT - Central ExciseMODVAT credit - Denial of exemption benefit under Advance Licence - Invocation of Rule 57E - Held that:- Adjudicating authority rejected the claim of the Appellant on the ground that the Rule 57E of the erstwhile Central Excise Rules, 1944 has put a bar for availing MODVAT Credit on account of fraud, collusion, or any willful mis-statement or contravention of any rules. It is observed that the said Company has contravened the provisions of Customs Act as well as EXIM Policy and therefore, they are not entitled for MODVAT Credit. - Settlement Commission has given a categorical finding on the bonafide of the Appellant. There is no material available on malafide or mis-statement of fraud, etc on the part of the Appellant. Hence, in our considered view, the claim of the Appellant cannot be barred under Rule 57E - Matter remanded back - Decided in favour of assessee.
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